The VIX keeps moving up and by what ever method you use, you will have to conclude it is in a uptrend.
For me a VIX crossing 22.50 is an important point. When we are over 22.50 and I don't see a downtrend I will no longer trade in a "Business as usual mode". I reduce risk and stop entering new positions and necessary adjustments are risk reductions. Check a Long term VIX chart, VIX above 22.50 doesn't happen to often and it tells you some big parties are expecting that "anything" can happen.
For my trade style when the chance that "anything" can happen becomes real, I need to move to the side. My profit goal for the month is no longer valid and not breaking anything because the main goal.
Allow me an anecdote. I am a sailor, I have crossed the Atlantic several times. On time I left solo North Spain, heading for the UK and Holland. 40 hours out, I was hit by a big storm, my first one solo. I was well prepped. Clean, well maintained boat. I reduced the sails, I locked the rudder in a safe setting, closed the hatches, set the Radar Alarm against other ships and went to sleep on the floor of the main cabin. I had a great nearly 8 hrs sleep. The next morning the storm subside and I continued with my journey.
To me that is what a VIX 22.5 is a storm warning, some hit you, some pass by on the horizon, some never show up.
Most of my accounts only have the Fly/Calendar combination and have only 25% (or less) account value committed. So I am in a good spot.
If you check the greeks of the position below; you see the trade being nicely neutral. Again I am in a good spot.
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